Not for dissemination in the United States or distribution to US news agencies
Vancouver, British Columbia, March 2, 2022 (GLOBE NEWSWIRE) — In addition to the news releases dated February 23, 2022 and February 28, 2022, Abacus Mining & Exploration Corporation (“”Abacus” or “society”) (TSXV: AME) is pleased to announce an increase in non-mediated private placements (“).Recruitment”), Issuing up to 12,500,000 units will generate up to $ 750,000 in revenue (“”)unit”) At a price of $ 0.06 per unit.
Each unit consists of one share of our common stock and half of the non-transferable common stock purchase warrant, each warrant purchasing one share of our common stock at a price of $ 0.10 per common stock for two years. can do. From the end date of the offering.
Revenues from the offering will be used for exploration and general working capital.
We own real estate options and leases for Willow near Jellington, Nevada and adjacent Lorraine, Nevada Copper-Molybdenum, with 20% interest on the production of BC investors’ advanced Ajax Copper-Gold development projects. Will be paid. Latest news and project description.
Offerings are carried out in accordance with the exemptions of available prospectuses, including exemptions for existing shareholders of the abacus that are authorized to subscribe in accordance with British Columbia Instruments 45-534. Exemption of prospectus requirements for specific transactions with existing securities holders.. If the total number of subscriptions received at the offering exceeds the maximum offering amount of $ 750,000, the unit will be proportional to all available exempt subscribers unless the company increases the maximum offering amount. Will be distributed.
Financing requires TSX Venture Exchange approval. In connection with the offering, certain finder may receive cash charges and / or non-transferable finder warrants. All issued securities are subject to a four-month holding period under Canadian securities law.
On behalf of the board of directors
ABACUS MINING & EXPLORATION CORPORATION
Paul G. Anderson, P. Geo.
President and Chief Executive Officer
Abacus is a mineral exploration and mining development company currently focused on copper and gold in British Columbia and Nevada. Our main asset is a 20% ownership of the proposed copper gold Ajax mine, KGHMPolska MiedźSA (80%), located southwest of Kamloops, British Columbia, which has undergone a joint state-federal environmental assessment process. On December 14, 2017, the BC Minister of Environment and Climate Change Strategy and the Minister of Energy, Mining and Petroleum Resources decided to refuse to issue an environmental assessment certificate for the project. KGHM recently reopened its office in Kamloops, British Columbia to promote First Nations, Community, and Government involvement in advancing the project towards potential resubmission of environmental applications.
The abacus also owns the option of Willow Copper Gold real estate near Jellington, Nevada, which can take up to 75% ownership and the adjacent Lorraine, Nevada is subject to a 10-year lease.
For the latest reports and information on the abacus project, please visit our website at www.amemining.com.
Information about the future outlook
This release contains certain statements that are considered “forward-looking statements.” All statements in this release, with the exception of historical facts, address events or developments in which the abacus is expected to occur and are forward-looking statements. Forward-looking statements are not historical facts and are not always, but generally “expect”, “plan”, “expect”, “believe”, “intention”, “estimate”, A description identified by the word “project”. , “May” and similar expressions, or the event or condition “occurs”, “occurs”, “possibly”, “possibly”, or “must occur” .. We believe that such forward-looking statements are based on reasonable assumptions, but such statements do not guarantee future performance and actual results are not forward-looking statements. It can be very different. Factors that may cause actual results to differ materially from those described in the future outlook include product price changes, mining and metallurgical recovery, operating and cost of capital, foreign exchange rates, and timely acquisition of required permits. Includes capacity, exploitation and exploration. Success, continued availability of capital and funding, and general economic, market, or business conditions. Investors should be aware that such statements do not guarantee future performance and actual results or developments may differ materially from those predicted in the forward-looking statements. .. Forward-looking statements are based on the beliefs, estimates and opinions of our management on the day of the statements. We are obligated to update these forward-looking statements if management’s beliefs, estimates, opinions, or other factors change, except as required by applicable securities law. Shall not.
This press release does not constitute an offer to sell or buy securities in the United States. The security was not registered under the Securities Act of 1933 and will not be registered in the future.US Securities Act”), Or for state securities law and, unless registered under US securities law, in the United States, or for the accounts or interests of Americans (as defined in Regulation S of US Securities Law). Cannot be offered or sold. And applicable state securities laws or exemptions from such registration are available.
Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.
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Abacus has announced that it will raise its previously announced funding to $ 750,000, the Canadian Business Journal.
Source link Abacus has announced that it will raise its previously announced funding to $ 750,000, the Canadian Business Journal.